Mobile Payments, Regulatory Headaches and Slow Growth: Top Quotes of the Week in Banking

Every week in the financial services industry, there seems to be chatter about increasing regulatory pressure, the slow economy and the potential of mobile payments. This week is no different.

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1. Wave of the Future

Within five years, half of today’s smartphone users will be using their phones and mobile wallets as their preferred method for payments.

—Peter Olynick, Card & Payments Practice leader for management and tech consulting firm Carlisle & Gallagher. The firm conducted a survey of 607 U.S. consumers that found nearly half would be interested in using mobile wallet services. More alarmingly for banks, eight in 10 respondents said they would use PayPal as their mobile wallet provider, while six in 10 said they would use Google or Apple.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio